Capital Group Investment Management PTE. LTD. Has $1.41 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Capital Group Investment Management PTE. LTD. boosted its position in GE Vernova Inc. (NYSE:GEV) by 52.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,290 shares of the company’s stock after purchasing an additional 1,476 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in GE Vernova were worth $1,411,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC raised its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC lifted its holdings in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova during the fourth quarter worth $30,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GEV. BMO Capital Markets cut their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Bank of America raised their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird decreased their target price on GE Vernova from $448.00 to $387.00 and set an “outperform” rating on the stock in a research report on Tuesday. Jefferies Financial Group increased their target price on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Susquehanna started coverage on GE Vernova in a research note on Wednesday, April 2nd. They issued a “positive” rating and a $370.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.13.

GE Vernova Trading Down 1.6 %

Shares of NYSE GEV opened at $322.81 on Friday. The stock has a fifty day simple moving average of $322.67 and a two-hundred day simple moving average of $329.15. GE Vernova Inc. has a 1-year low of $132.11 and a 1-year high of $447.50. The firm has a market cap of $88.24 billion and a price-to-earnings ratio of 58.06.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.